Wells Fargo & Company

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1.3 out of 5, based on 21 ratings and
195 reviews & complaints.
Company Profile
Wells Fargo & Company
420 Montgomery St.
San Francisco, CA 94163
866-878-5865 (ph)
626-312-3015 (fax)
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Wells Fargo is a BIG FRAUD! Don't bank there!!!
By -

I am so tired of dealing with this bank and although it is a hassle to move my personal and business banking I have had enough. This big fraud that calls itself a bank has ripped me off for the last time. Forget everything the nice, friendly, smiling and apparently concerned banker tells you when they are trying to get you to open an account, apply for a loan, credit card, mortgage or anything else they are pushing.

The bank is nothing more than a fee generating machine and they have geared all of the practices and policies to ways that will separate you from your money in as many different ways and as frequently as possible. I could give you a long list but here is one that is easy for everybody to understand:

I write a check to a supplier while doing business in another city, who banks with a different bank located several hundreds of miles away. Magically (with the wonders of electronic check verification) that check is debited against my account that very same night. No problem.

A week later I receive a check from a customer who banks just down the street from my bank. I deposit the check at an ATM in the morning, several hours BEFORE the afternoon cutoff for deposits. I write a few checks and incur a few more debit transactions the next day, counting on those funds being in my account. The checks/transactions were for approx the following amounts and order: $81, $33, $9, $47, $38, $14, $7, $59, $10, $22, $116, $2, $11, $16, $745.

Guess what? They put a 5 day hold on the check from the local bank (a client from whom I had deposited dozens of checks in the past with zero problems). Then they debited the very largest item first ($745). It was my very last check I wrote to a department store at the end of the day and the very first one they debited which overdrew my account -$4.51, as they had put the hold on my deposit from the day before at the ATM. Then they debited the rest of the 14 checks/debits from my account, adding an overdraft fee of $35.00 for each item, totaling nearly $500 in overdraft fees.

When I went into the bank the next day to scream my displeasure I was told by the smiling, friendly and helpful banker that it is Wells Fargo's policy to ALWAYS debit the largest items first. The still smiling banker assured me this was to PROTECT ME as large dollar items could be a house or car payment and they know I would want to make sure those items were paid first, of course.

I thanked the smiling, friendly and helpful Wells Fargo banker for being so concerned about my car and home and I then proceeded to tell them that my car is PAID FOR and I DON'T HAVE A HOUSE PAYMENT! Furthermore, even if I did I would never want to be dinged $500 just to have those items covered. I asked to speak to the manager (also smiling and friendly) who that he empathized with me but that paying the largest item first was the policy. When I asked if they could waive the fees for a long standing business and personal account customer I was told that it was their policy not to, less everybody would come in asking the same thing.

So the next time one of the Wells Fargo smiling, helpful and friendly bankers ask you to open an account, run don't walk from their bank. The really funny thing is we all just read in the news yesterday that Wells Fargo has been laundering money for the Mexican Drug Cartels. Really straight operation they run there. I wonder if they smile and act so helpful and friendly for the Narco's when they come in to transfer their drug money?

Wells Fargo is a criminal organization in my humble opinion and I will never do business with them again. Don't buy into their lie about how they want to "help you". The only thing they are interested in is helping you OUT OF YOUR MONEY!!!

Complaint against the Auto Loan Deferred Payment Policies
StarEmpty StarEmpty StarEmpty StarEmpty StarBy -
Rating: 1/51

CHARLOTTE, NORTH CAROLINA -- I called Customer Service asking for payment deferment for the payment was due on June 17, 2012. On June 11th Customer Service informed me that they cannot trigger the deferment until the day after due day, in this case on June 18th 2012. They directed me not to pay anything on the account and call back on the 18th of June.

When I called Monday morning on the 18th the call was immediately forwarded to the Collection Department. The agent there was the most disgustingly, rude and nasty person, giving me her name as “**”. She immediately proceeded to collect and used her nasty tone of voice and language using the situation (me being the delinquent client) totally in disadvantage. She talked to me as a “delinquent filth”. I asked her to switch me to her supervisor - when she hung up the phone with me.

I don't think that a financial institution with the stature Wells Fargo bears, have the rights to force its customers into delinquency in order to exercise whatever collection proceedings they feel like doing. Do Not Get (Work With) Wells Fargo Auto Loan!!! Wells Fargo Auto Loan Department has the worst and nastiest policies in the US financial market. Don't give them your business!

Wells Fargo HAMP/Loan Modification Scam Victim
By -

I am a victim of Wells Fargo's Loan Modification scam (HAMP) September 27th, 2010: In the summer of 2006 I was approved for an adjustable rate mortgage by Wells Fargo in order to build a home for myself and two children. My payments were very affordable until 2008 when an increase of over $800 a month put my monthly payment at over $1800 a month. I struggled but was able to make my payments until I suffered the loss of a job and a change in my salary in December of 2008.

I continued to struggle each month until June of 2009 when I was made aware of the government program called HAMP (Home Affordable Modification Program). I contacted Wells Fargo inquiring about the program. Wells Fargo informed me that after going over my financial situation over the phone with them, that I would indeed qualify for the program and that I would receive a packet via FedEx in a couple days to fill out and send back in. The packet finally arrived August 16th and I took great effort to fill out each form and gather copies of the required information. I returned the signed forms and packet containing all of my information within 1 day of receiving it.

I contacted Wells Fargo a few days later to verify that they received my packet and they confirmed that they had my information and would be reviewing it. I was assured that I would hear back from them within 30 days and not to make any further payments until it was determined what exactly my trial period payment were to be. I did not hear from them within the 30 days, and began calling to find out what was taking so long. I was told that their department had thousands of applicants and that it may take a little longer. Again, I was also told not to make a payment yet and was assured that very soon I would receive that information in the form of a FedEx package.

Two months went by. I finally received the package 10-26-09 and was given a "€œWelcome to the program" letter with contract and an outline of the three trial period payments of $691.86 with the first one being due 12-01-09 (over a month away). I called Wells Fargo and immediately set up the three payments via personal check predated for several days before each due date. I wanted to make sure the payment reached them before the actual due date to show my intentions of good faith.

The first payment was made 11-28-09, the second 12-28-09 and the third 01-28-10. I then anticipated hearing back or receiving some paperwork shortly after the last payment was made. I called a couple of days later to inquire about the steps being complete and what I should do next. I was told that it would again take up to 30 days to be reviewed and completed and that I should receive the same contract back via FedEx signed by them. When asked what to do regarding a monthly payment in the mean time, I was again told not to make any payments until the packet arrived.

I received the packet containing the signed contract, via FedEx, on my doorstep in March 2010. The contract was signed by Wells Fargo 03-04-10. I called to inquire what the next step would be and was told that I would be receiving another packet via FedEx containing paperwork regarding the re-modification, making it permanent. I was told this could take up to 30 days and that my new payments would begin as soon as I received the paperwork.

April 19th I received a letter from Wells Fargo dated April 14th, stating that unfortunately I was not approved for the Home Affordable Modification Program because I failed to make my three trial period payments. I was so upset and confused because clearly I had made each and every one of those payments. In fact I made them early!

I called at 7:35pm and spoke to ** regarding the letter. He confirmed that I made each payment, and said that the letter was sent out in error. He was as confused as I was regarding the error, and stated that in fact a "€œNew Trail Period Letter" was sent out automatically on April 15th, just after the erroneous "denial letter" was sent to me by mistake. He assured me that he was entering the notes from my call into the system and that it would be forwarded to his supervisor for correction. He asked me to wait a couple business days to call back so that it could be straightened out.

I called 04-21-10 and spoke to ** and seemed to have to re-explain each and every detail of the past ten months of beginning the program. She put me on hold for 45 minutes while she spoke to her supervisor and assured me that she was sending an email to correct the situation and have the "€œSecond Trial Period"€ removed from my account. She instructed me to give the email some time to get to the correct department and call back in 3 days. In the mean time I received the "Second Trial Period" packet via FedEx. I again called back and asked to speak to a supervisor regarding the confusion.

I was told that no one had yet responded to the email requesting help to remove the "Second Trial Period"€ and the women stated that she was not sure whom to send another email to, or who was even working on my case. After an hour on the phone she stated that the only way to get back into the program was to start over and fill out the new packet that had just arrived. I explained that I had done nothing wrong and that I had received the signed contract back from Wells Fargo completing my portion of the program. She offered no help and again told me that I would have to start over and apply to the program for the second time.

It was Wells Fargo that had dropped the ball, and I was falling through the cracks! Feeling helpless, and scared of losing my home, I completed the second packet and again called and set up three trial period payments several days ahead of their due dates just like the first time. The worst part about the second trial period was that my monthly payment had DOUBLED! The first time my payment was $691, this time the payments were increased to $1,224! Feeling absolutely helpless I dug in and waiting to complete the process for the second time.

The first payment (this time) was made 05-28-10. Two weeks later out of the blue a Wells Fargo debt collections representative called me to collect a payment of over $11,000 (late fees and unpaid mortgage payments). All along I found out that Wells Fargo had been reporting that I was not making payments and adding interest and penalties to my balance. I was in shock! I explained to the representative that I was in the HAMP program and that my first trial period payment (of the second program that I had been placed in) had been taken out of my bank account just two weeks prior.

She put me on hold for 20 minutes and came back on the phone to inform me that according to the notes in the system, I had called to remove myself from the program!!! In fact the words she used were that I "requested to be removed from the HAMP program." I was again in total shock that I was being told something so "out of left field."€ I explained that I would never do that and it must have been a mistake on their part. I demanded to speak to a supervisor!

I was told that Wells Fargo would have to "pull the actual call"€ and it would take 15-30 days for them to do that. I told them that this was illegal and that in no way shape or form would I have ever removed myself from any program that was going to help me keep my home and everything that I had worked so hard for. I threatened to call a lawyer and report them for this action.

The supervisor replied to me, screaming at the top of her lungs, that I was no longer in the program, it would take too long to pull the call and I could be placed in foreclosure! She demanded the only way to get back into the program as soon as possible was to start over the entire process again! Feeling completely helpless and defeated I once again was sent a package via FedEx to complete the process all over again.

It's now June 2010. I spoke to Customer service representative ** and was told to make my regular monthly payment of $1,295.92, which I have a confirmation number for. She told me to re-fax all of my information to the loss mitigation department and call 2 hours after to verify that they received the information. I did exactly what they asked and began the HAMP process for the third time. I was assigned a loan servicer whose name was **. I spoke to ** who told me that all of my paperwork needed to be sent in like clockwork every 30 days to maintain my status in the program, and to call at least once a week to check on the status of my approval.

I called each week and continued to re-fax my paperwork, signed and dated every 30 days. ** called and informed me that in fact I was not accepted into the HAMP program due to my ratio of debt being 21% instead of the required 31%. He stated that I would be reviewed for "€œin house"€ programs. He encouraged me to continue to call each week and keep my information faxed in every 30 days. In the mean time, I continued to pay the $1,295.92 mortgage payments for July and August.

09-23-10 I phoned Wells Fargo and during the identity verification process the customer service representative informed me that my home was in foreclosure with a sale date of November 4th. 09-28-10 I received a letter in the mail from Wells Fargo's law firm stating that they were moving forward with the foreclosure process of my home, setting a sale date of November 2nd, despite the fact that my case is still officially under review with Wells Fargo. In the same letter, they informed me that we may qualify for their home remodification program - the same one I'€™ve been applying to for the past 15 months.

From the beginning, I did everything Wells Fargo asked me to do. I never gave up, never withdrew and was on time with each and every application, contract and payment to Wells Fargo. Yet, I am currently in the process of losing my home.

Hidden fees and poor customer service
By -

SANTA ANA, CALIFORNIA -- I have been with Wells Fargo now for 2 years. When I bought the car, it was the only thing I ever had on my credit. Because of this, they charge me a 20% interest rate. Every time I ran behind on payments (usually within a week past due) they talk to me like I am the most awful person walking the face of this earth. Like none of them have ever been behind on any bills whatsoever and they are all so perfect and how dare me. I totally get it, they put their trust in me to pay them on time, that's why they loaned me the money, but at the same time I am a customer of theirs and no one should ever treat customers that way.

I have never talked to the same person twice and every person with the exception of one (**) have had an attitude by the time they answer to the time they hang up. I look at it like yes you gave me a loan thank you for that, but you are getting your money every single month. Not only that you are getting more than your money back with your 20% interest rates and "late fees". They call all hours of the night and harass anyone that answers the phone.

Real incident, I didn't know it was them calling, the caller id didn't show a name yet and instead of pressing the answer button, I ACCIDENTALLY pressed the hang up button. So they call right back and my fiance answers the phone the first thing the Wells Fargo employee says, "are we going to be mature now?" my fiance said "excuse me? who the hell is this?" He then asked to speak with me and my fiance says "you don't have the right attitude to be speaking with her."

Before my fiance could hang up the Wells Fargo says, "tell that to the tow truck that's on its way". So naturally my heart skips a beat and I call back and speak with someone else and ask them what was going on because as far as I was concerned, I wasn't past due at all. I found out he acted like that seriously over a $27.00 late fee. They are extremely rude and hateful. I recommend that no one ever gets a loan with them. Even if it's a higher interest rate with someone else, it's so worth it because you don't have to deal with this company and its miserable employees.

Adding Insult to Injury
StarEmpty StarEmpty StarEmpty StarEmpty StarBy -
Rating: 1/51

SAN FRANCISCO, CALIFORNIA -- On 1 January 2014 I made a mortgage transfer and several paid several online bills using their website. All the transactions I made were double-billed, meaning two payments were withdrawn for each payment. Online bill payments and transfers are made through different web pages, which indicated a technical problem on the bank's part. The bill payments were fixed the same day; however, the mortgage transfer was another matter.

I called customer service the same day (Jan. 1) and was told they could not reverse the transfer, but the mortgage services could, so they transferred me to that number. The customer service representative did not tell me the mortgage service department was closed for the holiday before transferring me.

I called the mortgage service department on Jan. 2 and was told the payment could not be reversed until the payment had been posted, which would take approximately 24-48 hours. On Jan. 3 I called and was told the payment had been posted, but it would require a “work order” to reverse the payment, and it would be approximately five business days before that could even begin. By this time my checking account was overdrawn because of the additional withdrawal. The following day (Jan. 4) my account was charged an overdraft fee.

I called mortgage services on Monday the 6th and was told the payment would “probably” be returned to my account by Friday the 10th as the soonest. I informed the customer service representative that my account was now overdrawn because of this, had been assessed an overdraft fee, and could not make any bill payments until the funds were returned. The operator's reply was, “That sounds like a real bummer.” If I wanted the overdraft fee canceled, she told me, I would have to print a copy of my checking account transactions and mail it to customer service. The fee would be canceled if the bank were “willing” to do so.

In the meantime I would have to wait for the funds to be returned. Today, Jan. 6, I was assessed another (second) overdraft fee by Wells Fargo. I have never experienced such callous and incompetent customer service in my life. How is it possible for me to make an immediate transfer to a bank, but for a bank to take 10 days to transfer the funds back to a customer, particularly to correct a mistake of their own making?

I can only infer that customers only matter when it comes to getting money FROM them. I'm equally dismayed at the bank continuing to assess a customer overdraft fees for a bank error, particularly when there is a record (they keep electronic records of all phone calls customers make to customer service) that the customer has repeatedly brought the matter to Wells Fargo's attention. Here is where I stand as of today. The transfer still has not been returned to my account after six days, I have been assessed two overdraft fees, and I am unable to pay any bills. This is Wells Fargo banking.

Wells Fargo Will Not Release My Insurance Money
StarEmpty StarEmpty StarEmpty StarEmpty StarBy -
Rating: 1/51

My family and I were involved in a fire in January 2013...our home was destroyed and we lost everything including our family dog. We had to jump from a second floor window to save our four children. The community was quick to respond and letters and donations were quick to come in. A modification was suggested to us as we were still paying a $1500 mortgage for a home we weren't living in and my husband had been laid off the month before. We gratefully went this route as we were trying to replace everything that had been lost.

After negotiations between our adjuster and the insurance adjuster were completed, a check was sent to cover the cost to rebuild our home. This was two months since the fire. In that time we had been living with my in-laws because our policy didn't cover temporary housing. Finally rebuilding was supposed to start. Not so.

The insurance company sent a check for the agreed upon amount but Wells Fargo was reporting almost $25000 less than the agreed upon settlement. My adjuster was angry needless to say and started asking questions. Wells Fargo had received the money and said they were holding back that amount in case of over costs. No one was very happy over this but it was a small detail and we were anxious to get the work started. Again not so.

We were told because we were in the middle of a modification that they weren't releasing the money until it was settled. One month we were told. Since we were told this, we have gone through a long process of never ending paperwork. We are told to fax this and send that. We do not receive a response to anything unless we call, and when we do we are told that we need yet another piece of information that we weren't told about two weeks prior.

We are now at the end of June 2013 and days from July and told that we needed yet another piece of information. (Please remember the fire happened in January.) This is the same piece of information that my HR at work has written a letter about on at least two other occasions. But now I have had to send to the Chicago home office to get the Head of Human Resources to write about. This piece of information? My job donated money to the family to help us after the fire and is on my pay stub. My HR has written two letters and I sent a signed affidavit stating that this was a one time gift. Not good enough.

In the meantime, my family is still living with my in-laws in two rooms. My children have lost their dog and home. They ask when are we going home. How do I explain to them that Wells Fargo has our money but won't release it and the modification that was supposed to help us is actually holding us back?

No Alert
StarStarEmpty StarEmpty StarEmpty StarBy -
Rating: 2/51

COLORADO -- My husband banked with Wachovia and of course they were purchased by Wells Fargo in 09. They told him to use his card (Wachovia) until it expired which was 2013. That was last August. Last week he gets a letter in the mail from Wells Fargo. They sent him a new debit card! They never called to tell him one was being sent out.

When he looked at the letter enclosed it read, "€œIn fulfilling our commitment to detect fraud on our customers'€™ debit cards, Wells Fargo regularly reviews cardholder activity to identify unusual purchase and ATM transaction patterns. As part of this review process, your debit card number and/or Personal Identification Number (PIN) were identified as being at risk for unauthorized transactions. As a precautionary measure, we will be closing your current card and issuing you a new debit card with a different card number and expiration date."

They just sent a card in the mail without his knowledge. He was so shocked to get that. Being that he didn't know it was coming, the fraud department opened him up to fraud. They never called and asked him about the charges at all. He had not used his card in any places that he had never used it and the charges were the normal, books, groceries and other small purchases at places that he had used his card at for more than two years each. Notice that after saying he may be open to fraud that they didn't call him and suspend his account. Therefore, if there was fraud, he would have been wiped out before he got the card they sent without telling him.

The worst part was that the letter stated that they would shut off his old card this week (about two weeks after the letter was received). What if we were out of town as we take a lot of trips during the summer? His card would have been shut down when we actually needed it without any explanation from the bank.

Also, it could have gotten misdelivered (our USPS has misdelivered a number of things within the last year). Not that it could have been activated without other banking information but, it would have left him without a card because without the letter, he didn't know his card was going to be shut down. Plus, if it were delivered to the wrong person they had a lot of his information, i.e., name, address and who he banks with.

He went to a local branch near our home to complain and the lady who was helping him started playing the blame game. She started with, "We sent the new card because we changed your account (also without notification, it was included in the letter with the card) to a different kind of checking." He says "Yeah, if I don'€™t keep my balance up then I would have to pay", she says, "No, you have a free account because you were grand fathered in." He tells her that the letter said they would start charging him $5 a month if he didn't keep his balance higher than $1,500.

She disputes this again and then looks at his account (never read it before but she was trying to explain to him that he was wrong) and says, "Well, you don'™t have to worry about that, your account is within the parameters and you have a platinum card now (I guess she thought that was supposed to make it OK)."

He goes on to ask, "Why did you all send a card without my knowledge?" She says it was the back of the house. He asks why they sent a card without his knowledge that would make his old card null and void within a two-week period. She says she doesn't know. He asked if that was their normal policy, she says she doesn't know what the back of the house policies are.

He transfers most of his money and tells her to close his account. She, as she's taught, tries to get him to stay. He tells her that he doesn't want a bank that would send a card in the mail without notifying him opening him up for fraud, a bank that calls at least every two weeks trying to get him to purchase life insurance that is through a third party (a Wells Fargo associate calls and says that if you want the product she will put you through to the company that sells it) or one that charges him if his checking account dips below $1,500.

After that she did not say another word to him. I guess she just gave up and finished closing his account. Beware if you have Wells Fargo they may send you a debit card that cancels your current card without telling you. In the end I believe they were just changing his account and they lied about why they sent him a new card. However, if they would have just said that to begin with, he may still be a customer. I just don'™t get why these companies think it's better if they be sneaky and lie rather than be upfront.

** Update** I just got an automated call from Wells Fargo (not 20 minutes after I wrote this review). The message said that Wells Fargo is sending a new card because my husband's card is "at risk for fraudulent charges." Aren't all cards at risk for fraudulent charges?

As a bank they should have things in place to minimize that risk. Instead they send a card without his knowledge. This call came almost two weeks after he received the card in the mail and almost a week after he closed his account.

Wells Fargo Customer Service is the Worst!
By -

I have had one of the most frustrating customer service experiences ever with Wells Fargo and recommend anyone who is considering a loan with them to consider a mafia loan shark first, you will get better service and will probably be treated better. I have had my mortgage and home equity line of credit with Wachovia for 4 years. I have never missed a payment and typically pay extra every month.

Well, Wells Fargo bought Wachovia and my home equity line was recently converted to a new Wells Fargo account. I received a letter from Wells Fargo stating as of June 7th my account will have a new number and not to pay on the old one, it also said I would get a new statement with the new account number in the mail. My payment is due on the 12th of every month, so when June 10th had come and I hadn't seen a new account number I called them and asked for it. They wouldn't give me the account number over the phone and insisted that I would be receiving it in the mail.

I asked about my June payment and they said their system indicated that my next payment was not due July 13th. It sounded weird to me but they kept insisting that was the case. So on June 17th, I still had not received any information in the mail about my new account but I was able to log onto my new Wells Fargo account online. It showed my next payment was due on July 13th, but it was for $200 more than my normal payment. So I call again and am on hold for for about 30 minutes.

I finally get to talk to someone named ** and neither he nor his supervisor ** could explain to me why my payment due is $200 more, they said they just converted the account and didn't have information on it yet but would soon and they would call me back (I wasn't holding my breath on that one).

A couple of days go by and I get a call from my ex-wife asking why the bank is calling her and harassing her about me owing an overdue payment that they wanted immediately. I again call the home equity service line. After waiting 15 minutes I get connected to someone in sales that couldn't help me. He transferred me to **, who was one of the most useless CS reps I have ever dealt with. She wouldn't discuss my account with me because I didn't know the account number. All I had was the last 4 digits which were available to me through my online account.

She finally transfer me to her supervisor who proceeds to tell me I don't owe them anything until the 13th and he can't tell me anything about the account because he doesn't work with home equity loans. Even though I specifically called the home equity line number for Wells Fargo and told every person I spoke with that I needed info on my home equity line, he then tries to transfer me again (at this point I have been on the phone over an hour) and of course disconnects me.

About an hour later I get a call from them stating I owe my payment plus $200 for late fees. I immediately ask to speak to a supervisor, am put on hold and then hung up on. I am very irritated at this point so I decide I will just wait for them to call again.

The next day after I have calmed down a bit, I call the home equity one number again and finally am able to speak to someone that knows what they are doing. ** was able to access my account and explain to me that the $200 was not a late fee, it was my minimum payment because that I had been paying over on the account all the time, so their system showed a partial payment for June with a left over amount due of $200, then my regular payment plus the $200 was due by July 13th.

She also said the system didn't show me as being overdue so she wasn't sure why they were calling me, but if I paid the $200 for June plus my normal payment for July then I would be paid up through Aug and they would stop calling and she could put it in the system immediately. I went ahead and paid it and asked for a full accounting of my loan to be sent to me in writing. Well, I never received the account of my loan and then later that night I received another call from them asking for an immediate payment on the money due.

I proceeded to tell the CS rep, **, that he needs to check his system and stop bothering me because I had been proactively trying to pay them for over two weeks and they wouldn't take my money. I said I paid them in full through Aug even though technically I didn't owe them a dime until July according to his own supervisors and that if the calls didn't stop I would be filing a complaint with the Federal Reserve about their bank. He then told me if I wasn't a deadbeat and paid my bills on time they wouldn't need to call me. At this point I lost it and started yelling at him and he hung up on me.

I was just getting ready to refinance both of these loans and Wells Fargo has made it very easy for me to cross one bank off the list. I will not be doing business with them anymore. I am in the process of transferring my checking and money market accounts out of their bank now.

It amazes me that companies don't realize how poor customer service can really affect their bottom line. I know I am just one small account to them but I would think they would like to keep my business considering they stand to make a few hundred thousand dollars in interest and account fees from me. If anyone is looking for a loan, stay far away from Wells Fargo they are not worth the headache.

Wells Fargo Bank constantly under reports deposits
By -

Wells Fargo account service for Direct Reinvestment Plans. For many years I had a Direct Reinvestment Plan with Merck. Some time ago this plan was taken over by shareowneronline.com which is Wells Fargo (much to my great horror). At that time I stopped getting any statements from them. So I called and it was quite a chore to get such a simple thing fixed, I ended up having to call multiple times to start receiving account statements again.

About two years ago I told them to only send hard copy statements through the mail and to block all online access because of a keylogger trojan problem I had. Most companies like Vanguard immediately took care of the issue, but Wells Fargo it was the same problem all over again, they'd say they stopped online access and yet I could still log on. So once again it took multiple calls and finally speaking to the right person who fixed it for me.

So for the last six months, having solved my trojan problems, I asked them to give me access back to my account online. I did this with all the mutual fund companies, banks and my two brokerage accounts. Everything went fine except for Wells Fargo. Still to this day I do not have access to my account online. I just spoke with them again today, and they said "so-n-so in such and such department is working on it, but I'm not in that department, and they're gone for the day, so I can't see what the status of it is". I've had two supervisors promise me they'd look into it and fix it, and call me back. They never do.

I can't get over such a major bank as Wells Fargo being so terrible with their customer service but I'm not at all surprised by it. In the 1980's I had savings and checking at a Wells Fargo in Vallejo, CA, and later in Elko, Nevada and I found on several occasions where deposits had not been credited to my account OR that they had credited the incorrect amounts. Needless to say I quit doing business with them!

When I moved to Visalia, CA the first bank we came to in town was a Wells Fargo, and as I had a bunch of gold coins with me that I carried in my car on the move, I went in, opened a free checking and then got a safe deposit box to put my gold in. I knew I was only anchoring the safe deposit with the checking, as at that time they told me I had to have an account there to have the safe box.

Each year we'd get a bill for the box and we'd pay it, but we never went to the branch anymore. When we first started banking in Visalia in 1989 we started an account at Wells Fargo just because it was the first bank we found, and I knew it was a mistake. Every single month our statement was fouled up! They had deposits wrong, always smaller than what we deposited. I never did hear an explanation of why this kept occurring.

So after about six months of a checking nightmare with these bozos we switched over to Coast Savings and Loan which later was taken over by another bank, but with them we never had even one problem. So we didn't go to the branch much anymore. When we closed the account we asked about the Safe Box and they said it was OK, considering what they'd put us through, it was OK to keep the box there without an account.

One day I was downtown where the bank was, and I stopped in my tracks and stared in wonder at the vacant lot where the bank had been. There were some workmen there getting ready to build something and I asked them, "Where did Wells Fargo go?" And they kind of laughed at me and said "It's down the street a few blocks". And indeed there was the new location of my bank branch. I asked my wife and we had never received notice the branch was moving probably because we only had a safe deposit box.

I went in the bank and took my key to the safe deposit window, I was glad to see they had my card on file and we went in to the area with the boxes, and the girl took me to a box with the same number as mine only it was the smallest box you can get instead of the very large box I had. She then said that's all there is. I explained to her about my box and she didn't have a clue what could have happened to my box. I had to go sit down, I felt faint and ill. I didn't raise my voice or become angry at all. I was just overwhelmed and the stress of the situation was completely taken physically by me.

Then this woman comes over, she was elderly and wearing a crooked little wig. She was immediately hostile to me and at first it took me a second to realize what was happening, I was in a fog and still felt like I was going to fall over. She really woke me up when she said, "We don't need your kind of people in this bank". Now you must realize, I was very well dressed and clean shaven. I wasn't acting drunk or on drugs. I explained to her that I was upset because they didn't seem to have my safe deposit box. She wanted my account number and when I didn't have one as we no longer had accounts there, she was openly hostile and venomous toward me.

I asked her if she had me confused with someone else, and she just mumbled something and sort of wandered away. I just sat there dumbfounded, and then she came back and renewed her attack, saying she was the assistant manager and if I didn't leave she would call the police. Perhaps my suit and tie clashed and that was what was upsetting her? About that time the original young woman came rushing overlooking very concerned that Mrs. Whackjob was hassling me, and she pleaded with the woman that I was a customer and that they had misplaced my safe deposit box, but they had now found it!

Relieved I followed her with Mrs. Whackjob following us mumbling things behind me, and they took me to my box and all was well. Yea! That's the most important part. They had two banks of boxes with duplicate numbers and the really big boxes didn't get used much so the girl didn't know. After checking all my stuff and on the way out the assistant manager (who I've meanly called Mrs. Whackjob) stopped me, barring my way, and said as I didn't have an account in their bank I would have to remove my safe deposit box right away. I assured her that I would do so immediately and made sure I wrote down her name.

I spent part of the afternoon on the phone to the corporate HQ of Wells Fargo explaining to them that they had a mental patient working as the assistant manager of their branch. I later received two letters of apology from the bank, carefully worded so as to avoid any admission of guilt. I swore I'd never deal with Wells Fargo Bank ever again, as they really sucked.

Then in 2009 my mom in Vallejo, California had a stroke in May and had passed away by October. Unfortunately for me, she had her checking account at Wells Fargo. I won't bore you with all the details but they put me and my mom through hell because she couldn't come into the bank, and even though I had full legal power of attorney which I provided them, they still made both our lives miserable just trying to cash a check or pay a few bills for her.

What we had to do was, I just paid everything out of my checking and then she later would reimburse me, things like that because we couldn't get through to the morons at the Vallejo branch that I had all the legal paperwork in order. My estate attorney told me they were famous for making it really hard to get the money in these cases, and in his opinion it wasn't because they were making sure relatives weren't ripping off elderly parents, but because of just stupidity and a desire to keep the money in their bank as long as possible. I'm not sure about that but they treated me and my mom both like **.

Tell lies to get business
By -

GRAND RAPIDS, MI -- I guess I was asking Wells Fargo for too much to be a great customer and prompt payer, they would rather jerk people around and get that high interest no matter what. Here are the things we are going through with Wells Fargo Bank N/A Financial, very unhappy with and abusive predatory tactics/promises/lies.

On 02/18/08 we financed our home with Wells Fargo Financial to pay off debt that we inquired during the rebuilding process of our home, the home was previously free & clear, we dealt with Wells Fargo, she contacted us cold call, and we were promised a fixed rate loan, no problem. Get to closing and it turned out to be an ARM @12% interest with 3 year adjustment, my wife had a few things on her credit that was paid off so according to Wells that we can refinance at a good rate in 1 year. Great! Now we have good credit, no late payments on anything and I mean everything.

Also extra used funds to put in a new septic system & other improvements so we can get ready to refinance at 95% of value next year as Wells Fargo will do that, but for them to get around that, they have their own appraiser and he will low ball the appraisal. We had house appraised for $90,000 a few months earlier by another appraiser, (but that deal did not go through), and Wells Fargo says it is only worth $70,000 and that was before/after many expensive updates.

Now comes April of 2009 and we were contacted by Wells Fargo Bank N/ One of the managers at the Grand Rapids, mi. branch and said we are ready to roll this loan into a 4.5% 30 year mortgage, $7500, in closing costs. Very high but he said was negotiable. Great! So we sent all the paperwork in, in April which was all there, and Wells Fargo also said the sooner we get our paperwork in the sooner we close this loan, so I did just that, then 05/28/09 comes along and we finally got the Truth in lending Disclosure. Great! Everything looks good, the terms and everything were good for us.

OK, now that the home still needed a little work to be perfect, I finished some small projects and still needed to complete the garage, siding, electrical, wood floors, landscaping, etc. so I contacted Wells Fargo and he said the loan is all approved and just waiting on the appraiser. So I waited for a few weeks and asked Wells Fargo again what was going on? Again he said the loan has been approved and still waiting on the appraiser, busy guy, so I asked if I could get my own appraiser and he said no. And ** advised me to borrow money to finish your home before the appraiser gets there to get the best appraisal.

OK, borrowed about $5000 to finish home and everything was good to go now, just waiting on the appraiser. Now I also asked Wells Fargo if we should get another finance company to refinance since they were having trouble getting a appraiser here and Wells Fargo said "Just be patient, the loan is all approved and the appraiser will be there/well this went on all summer." If I would have known Wells Fargo was lying to me, I would have found another finance company, but I would have 2% prepayment penalty on the loan, so we would just stick to the plan.

OK now here comes 08/31/09 a refusal letter stating that we insufficient income, which we did not a year before and excessive obligations. Yes that is true but since we borrowed money to fix up home, thanks to Wells Fargo advise, I would think that would be expected, since I was going to pay off all debt with loan proceeds and we are on a good path to great credit. I have been borrowing money to pay some bills until this loan went through. Well since the loan did not go through, I cannot pay my unsecured debt. Now I am in big trouble, it is my fault for listening to these lies from ** and Wells Fargo. Should have seen it coming.

OK, now comes the Home Affordable Modification Loan since our income has dropped $900. per month due to my tenants not paying and the overwhelming unsecured debt (my wife is a Vet and we are both on Social Security fixed income due to disabilities), that was 09/11/09. We sent all required info for the Home Affordable Modification to Wells Fargo and on 11/04/09 Wells Fargo needed more info. We sent that out promptly and about a week later Wells Fargo called me and said we do not qualify for the Home Affordable Program, we received too much money and the payment would go UP instead of down.

I then asked her if there is another way of getting this home in a good loan, and she said it was in a good loan and 12% ARM is a very good rate? WHAT? and she kept insisting me that she trying her best to help me? WHAT? Well that conversation did not end well.

OK now check out these 3 situations- 02/18/08 had good credit except wife, not too bad, promised a fixed rate-we get 12% ARM 40 year $675 a month, OK no problem say Wells Fargo, at time promised us refinance next year when these marks are off of credit. Now we apply for a good loan all credit issues cleared up, April 2009 4.5% 30 year fixed-$399.51 a month, down from $675.00 month. Perfect! Come 08/31/09, got refused for this loan, findings - could not afford this loan/payment? WHAT?

Now we apply for the Home Affordable Modification 11-09, since our monthly income went down $900 a month, got refused because we receive too much money and the payments would go UP from $675. month, instead of down. Well That is our nightmare with this bank. How can anyone lie to get business. Dirty play!

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